LEG REG REVIEW 2014, 32d Issue *** December 8, 2014
LEG REG REVIEW is a periodic newsletter produced by PHILLIPS ASSOCIATES, a professional lobbying and consultant firm located near the State Capitol. It contains news on the legislative and regulatory scene in Pennsylvania that may be of interest to the Insurance and Business Communities. It is a free member benefit for those who are members of the Pennsylvania Association of Health Underwriters (PAHU). Subscription information may be obtained by contacting PHILLIPS ASSOCIATES at 717/728-1217 FAX 717/232-7005 or e-mail to xenobun@aol.com. Please email jtrout2792@aol.com supplying both your name and e-mail address if you wish to be removed from or added to this list. REVENUE IS UP SO WHY THE DRASTIC BUZZ? October and November revenues came in better than expectations, $109 million more than anticipated for this fiscal year. For example, corporate taxes came in year-to-date (YTD) $863.1million or $86.1 million over estimate. Similar increases were seen in sales taxes ($4 billion YTD –$49.4 million over estimate) and inheritance taxes ($449.6 million YTD –$90.3 million over estimate). About on track were personal income tax collections ($4.2 billion YTD which was $10.8 million below expectations –0.3 percent) and taxes from cigarettes, malt beverages, and table games at $595.2 million YTD or … Read More
